Bitcoin: Michael Saylor Reacts To Ethereum ETF Approval
MicroStrategy’s executive chairman and long-time Bitcoin advocate, Michael Saylor, remains steadfast in his support for BTC. This comes amidst the recent approval of spot Ethereum exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC). In response to this news, Saylor conveyed a strong message to the BTC community, reaffirming his belief in Bitcoin’s superiority over Ethereum and other assets.
A prominent Bitcoin maximalist, Saylor took to X (formerly Twitter) to share his thoughts. He posted a bullish message for the crypto community, proclaiming, “All your models are destroyed when Godzilla arrives. #Bitcoin” He accompanied this with an image of the iconic movie monster Godzilla wreaking havoc. The image included a BTC mascot in the corner, symbolizing Bitcoin’s immense power and the significant impact its supporters expect it to have on the market.
Also Read: What’s Happening Between Peter Schiff And Bitcoin?
All your models are destroyed when Godzilla arrives. #Bitcoin pic.twitter.com/adNda8VXBf
— Michael Saylor
(@saylor) May 23, 2024
Following the approval of Ethereum ETFs, both Bitcoin (BTC) and Ethereum (ETH) endured price declines over the past 24 hours. BTC was trading at $67,356.66 following a 3.40% daily drop, while ETH fell 4%. However, Ethereum previously surged by over 20% throughout the week due to optimism about the ETF approval.
Saylor’s Unwavering Belief in Bitcoin
Saylor’s reaction underscores his unwavering confidence in Bitcoin’s long-term potential. He is convinced that BTC will surpass Ethereum and other competitors in the market. This belief is consistent with Saylor’s broader strategy and his company’s substantial investments in BTC, positioning him as a leading voice in the cryptocurrency sector.
Also Read: Donald Trump Vows to Build a Bitcoin Army to Win 2024 Election
The approval of Ethereum ETFs is a significant development in the cryptocurrency industry. However, Saylor’s message highlights the ongoing rivalry between BTC and ETH. It reinforces the conviction among Bitcoin supporters that BTC will ultimately prevail as the dominant digital asset.